NF Nestor Investment Holding or New Frontier Group has acquired Hong Kong Integrated Oncology Center (HKIOC), a private oncology medical platform.
The transaction follows TE Asia Healthcare Partners, a portfolio company of TPG Capital, agreeing to sell its stake in HKIOC to New Frontier.
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With this acquisition, New Frontier will now manage HKIOC’s operations across multiple locations, including two centres in Hong Kong Island and Kowloon, as well as the Hong Kong Adventist Hospital Oncology Center.
HKIOC specialises in offering a variety of cancer treatment services, from early diagnosis to radiotherapy, mental health and rehabilitation support.
The latest transaction will see HKIOC collaborating with New Frontier’s subsidiary HEAL Oncology to further create a formidable entity in the region’s oncology sector.
The collaboration between HKIOC, HEAL Oncology, and United Family Healthcare, which is also New Frontier’s subsidiary, is projected to improve cross-border cancer care by establishing a nationwide multidisciplinary cancer network.
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By GlobalDataBesides, this network will bring together various specialists to deliver comprehensive and personalised treatment plans.
By combining the expertise of HEAL Oncology and HKIOC, New Frontier also plans to conduct larger-scale clinical trials for advancing cancer treatment.
Furthermore, the strategic move is expected to strengthen New Frontier’s position in the oncology care sector in the Greater Bay Area (GBA), including in Hong Kong.
New Frontier’s presence in GBA area, collectively called New Frontier GBA Healthcare network, forms the backbone of the regional medical network. It includes HEAL Medical Group, Guangzhou United Family Hospital, Shenzhen United Family Hospital, and now HKIOC.
This network underscores New Frontier’s commitment to medical education and research, fostering collaborations with academic and research institutions worldwide.
BDA Partners served as the exclusive financial advisor to TE Asia and HKIOC’s other shareholders, with legal advice from Robertsons and financial guidance from KPMG.
New Frontier Group CEO and co-founder Carl Wu said: “The acquisition of HKIOC gives us incredible depth of expertise to treat the most common, as well as the rarest forms of cancer. Our investment in research and academia will accelerate our effort in tackling the greatest health crisis of our time.”
